The downtrend may be expected to continue while market is trading below resistance level 49.60 or in case the market drops below support level 49.00, which will be followed by reaching support level 47.00.
WTI Crude oil, CL futures market
Wednesday forecast, February 26
Downtrend
The downtrend may be expected to continue while market is trading below resistance level 49.60 or in case the market drops below support level 49.00, which will be followed by reaching support level 47.00.
Uptrend
An uptrend will start as soon, as the pair rises above resistance level 49.60, which will be followed by moving up to resistance level 50.50.
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